Press release
Machinery And Industrial Automation Market Size Forecasted To Achieve $304.52 Billion By 2029 With Steady Growth
Machinery And Industrial Automation Market Size
What Is the Current Machinery And Industrial Automation Market Size and Its Estimated Growth Rate?
There has been a significant expansion in the machinery and industrial automation market size in the past few years. Its size is projected to increase from $206.3 billion in 2024 to $225.68 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.4%. The notable growth in the previous period is due to factors such as the effects of globalization, integration with the Industry 4.0 framework, commitment towards environmental sustainability, and enhanced safety standards.
Expectations are high for the machinery and industrial automation market, with projections indicating robust growth trajectory over the next couple of years. The market is predicted to attain a value of $304.52 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.8%. The surge in growth during the forecast period is largely due to the rising adoption of IoT and AI, emphasis on energy efficiency, progressive digital transformation, smart manufacturing initiatives, resilience in supply chains, and the increased demand for remote monitoring solutions. It's also crucial to note the upcoming trends for this period, such as the increased acceptance of advanced AR technology, an increase in safety automation product demand, growth in the industrial PC market, and a concentration on energy-efficient alternatives.
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How Are Emerging Segments Shaping the Machinery And Industrial Automation Market Landscape?
The machinery and industrial automation market covered in this report is segmented -
1) By Product Types: Sensors And Actuators, Industrial Robots, Control Systems
2) By Automation Technologies: Programmable Logic Controller Systems, Supervisory Control And Data Acquisition, Distributed Control System, Robotics
3) By End-User Applications: Material Handling And Packaging, Assembly And Disassembly, Process Automation, Quality Control
4) By Industry Verticals: Manufacturing, Energy And Utilities, Chemicals And Pharmaceuticals, Food And Beverage
Subsegments:
1) By Sensors And Actuators: Proximity Sensors, Temperature Sensors, Pressure Sensors, Optical Sensors, Force Or Torque Sensors, Rotary Actuators, Linear Actuators, Pneumatic Actuators, Hydraulic Actuators
2) By Industrial Robots: Articulated Robots, SCARA Robots (Selective Compliance Assembly Robot Arm), Cartesian Robots (XYZ Robots), Delta Robots, Collaborative Robots (Cobots), Parallel Robots
3) By Control Systems: Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Supervisory Control And Data Acquisition (SCADA), Human Machine Interfaces (HMIs), Motor Drives And Controllers, Safety Instrumented Systems (SIS), Machine Vision Systems
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Which Growth Factors Are Influencing Machinery And Industrial Automation Market Expansion?
The machinery and industrial automation market is anticipated to surge due to the increasing usage of the Internet of Things (IoT). IoT pertains to a network of interlinked objects and devices equipped with sensors, software, and other technologies. It's popularity is rising due to its capacity to enhance connectivity, provide data-driven insights, and improve efficiency in different sectors. IoT improves machinery and industrial automation by offering continuous connectivity and data exchange, enhancing efficiency, and enabling real-time monitoring and control. As per the State of IoT-Spring 2023 report from IoT Analytics, a service based in Germany, worldwide IoT connections expanded by 18% in 2022, attaining 14.3 billion active endpoints. It is envisaged that the number of IoT connected devices will increase further by 16% in 2023, reaching 16.7 billion active endpoints globally. Thus, the rising application of the Internet of Things (IoT) is propelling the expansion of the machinery and industrial automation market.
Who Are the Dominant Players Across Different Machinery And Industrial Automation Market Segments?
Major companies operating in the machinery and industrial automation market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., Larsen & Toubro Limited, Eaton Corporation plc, PARKER HANNIFIN CORP, Danfoss A/S, Emerson Electric Co., Rockwell Automation Inc., FANUC Corporation, Omron Corporation, YASKAWA ELECTRIC CORPORATION., Kuka AG, Yokogawa Electric Corporation, Azbil Corporation, Stratasys, Sensirion AG, Dwyer Instruments Ltd., Endress+Hauser Group Services AG, WIKA Instruments India Pvt. Ltd
What Are the Latest Developing Trends in the Machinery And Industrial Automation Market?
Significant corporations within the machinery and industrial automation market are shifting their focus towards product development, particularly industrial automation items, to enhance their profit margins. Industrial automation products encompass a broad array of technologies and systems engineered to automate and streamline industrial operations. For instance, in May 2023, Renishaw Inc., a UK-based machine industry firm, introduced a new line of industrial automation products. This line includes three items, RCS L-90, RCS T-90, and RCS P-series, all backed by a dedicated software suite. The innovative RCS product line aims to resolve common challenges in the global industrial automation sector, applying special attention towards the manual setup, calibration, and maintenance of robots. The RCS L-90 is a ball-bar device that enhances the robot system's precision, curtails setup time, and performs robot health monitoring. The RCS T-90 is a unique tri-ball bar system that allows users to pinpoint the root causes of subpar performance while capturing vital robot data.
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Which Geographic Regions Are Expected to Dominate the Machinery And Industrial Automation Market in the Coming Years?
Europe was the largest region in the machinery and industrial automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machinery and industrial automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Machinery And Industrial Automation Market?
2. What is the CAGR expected in the Machinery And Industrial Automation Market?
3. What Are the Key Innovations Transforming the Machinery And Industrial Automation Industry?
4. Which Region Is Leading the Machinery And Industrial Automation Market?
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